"We all want to increase tax rates on the rich."

[Dad2three]

Arthur Laffer said quote: "We all want to increase tax rates on the rich. But we want to do it not by raising rates which won't work. We want to do it by lowering rates and broadening the base."

pay attention people like bripat9643 Oldstyle bedowin62 Toddsterpatriot Judicial review @ The rest of you

but "We all want to increase tax rates on the rich. But we want to do it not by raising rates..."?????

please, Supply siders, please explain

Arthur Laffer also said quote:

President Clinton "btw cut the capital gains tax rate dramatically. He got rid of capital gains taxes on owner-occupied homes, ah, for everyone. Ah, he also got rid of the tax on, on , ah retirees working, ah which was the group between 65 and 72 (years of age). Ah, he also put in welfare reform. He also cut government spending as a share of GDP by more than the next 4 best Presidents combined"
​

President Clinton gets a lot of credit by a partisan who is not an ideological nincompoop in the way most are here.​

Now:

Warren Buffet is in the top 1% but he's also in the top 1/10 of 1% and ....

Warren Buffet uses more tax breaks than most. If he paid a little less than $7,000,000 in taxes one year and he said his tax rate was 17.4% -- Buffet had adjusted gross income of $40,000,000 that year but --- his wealth increased from 40 billion to 50 billion -- he gave billions away to foundations. Using the Simon definition of income, add up what Buffet spent, what he gave away, and the increase in his wealth.

If you look at Buffets' income that year it was $12 billion --

Buffet paid $7,000,000 in taxes for --- a 6 one-hundreths of one percent tax rate on his actual income

Top 1% or the rich:
the rich (defined by top 1% = $380,000 a year -- a few years ago)

Then there are the super rich like Buffet​

Should lower taxes across the board implementing a flat tax which is fairer than a variable tax where people who earn more get taxed a higher percentage. Not like the higher tax brackets actually end up paying those higher amounts anyway. Tax Code is thicker than the offspring of a Bible and metro phone book. Plus if in those higher tax brackets you're probably stashing your monies in offshore type refuges anyway. Any number of things cna be done to avoid ever paying anything close to the tax bracket you're in. Better then to have a lowe enough rate it's cost-ineffective to hire tax accountants to save ya money. More we tax the rich, more they leave US juridiction. So long as it's cost-effective for individuals and businesses to go to other countries, they will. If we want more tax revenue from business they have to be here. But they wont be if they're unfairly taxed.

MORE right wing nonsense. Individuals CAN'T LEGALLY evade taxes by going offshore

FUKK the Corps who don't want to play by the rules, change it so they CAN'T "create jobs" in the USA if they don't want to support US by evading taxes offshore!@!!

Think we could stop Corps from evading taxes IF they weren't ALLOWED access to the worlds largest economy?

BTW, Obama has proposed lowering the Corp tax from 35% to 28% of course the party of NO, refused, as well as getting the Dems "bring jobs home act" passed, which rewards Corps for bringing jobs back to the US

 

[Dad2three]

Arthur Laffer said quote: "We all want to increase tax rates on the rich. But we want to do it not by raising rates which won't work. We want to do it by lowering rates and broadening the base."

pay attention people like bripat9643 Oldstyle bedowin62 Toddsterpatriot Judicial review @ The rest of you

but "We all want to increase tax rates on the rich. But we want to do it not by raising rates..."?????

please, Supply siders, please explain

If you collect more taxes from the rich with a 15% cap gains rate than with a 20% cap gains rate, what do you do?

Moron Obama said he'd raise the rate, for fairness.
Smartest president my ass.

what would make you think that you would collect more from a 15% rate?

W lowered the tax on repatriation of money from 30% to 5% for one year and got more tax revenue. When rates are fair, people don't work to evade them and pay more while focusing their efforts on economic efficiency

ACTUALLY DUBYA/GOP LOWERED IT FROM 35% TO5% AND THE US LOST JOBS.

RIGHT WING HERITAGE FOUNDATION:

Would Another Repatriation Tax Holiday Create Jobs?

What Really Happens to Repatriated Earnings

Were Congress to enact another repatriation tax holiday, companies would almost certainly take advantage of the opportunity to slash their tax bills and strengthen their balance sheets by repatriating large sums. Businesses respond to shifts in tax policy—and a repatriation tax holiday is a large incentive to act.

Congress passed the first repatriation tax holiday in 2004, accompanied by similar arguments regarding the expected surge in domestic investment. As expected, the tax holiday resulted in a large number of companies repatriating their earnings. According to a study by the Internal Revenue Service, 842 of the 9,700 businesses with foreign subsidiaries transferred a total of $362 billion from their foreign subsidiaries to their U.S. parent companies.[8]

The evidence clearly shows that these repatriated earnings did not increase domestic investment, job creation, or research and development (R&D).[9] As the authors of the leading paper on the subject concluded in 2010, “repatriations did not lead to an increase in domestic investment, domestic employment, or R&D.”[10] The authors continued:

Instead, estimates indicate that a $1 increase in repatriations was associated with a $0.60–$0.92 increase in payouts to shareholders—despite regulations stating that such expenditures were not a permitted use of repatriations qualifying for the tax holiday. The results indicate the U.S. multinationals were not financially constrained and were reasonably well-governed. The fungibility of money appears to have undermined the effectiveness of the regulations.

Would Another Repatriation Tax Holiday Create Jobs?

 

[Dad2three]

Arthur Laffer said quote: "We all want to increase tax rates on the rich. But we want to do it not by raising rates which won't work. We want to do it by lowering rates and broadening the base."

pay attention people like Oldstyle bedowin62 Toddsterpatriot Judicial review @ The rest of you

but "We all want to increase tax rates on the rich. But we want to do it not by raising rates..."?????

please, Supply siders, please explain

Right wingers want to "broaden the base"


Broadening the base? Oh right the bottom 50% of US who make 11% of ALL income (avg less than $15,000 PER FAMILY) down from 18%+ of income in 1980, need to step up *shaking head*

Which is why, if you want to understand who's paying what in taxes, you don't want to just look at federal income taxes, or federal payroll taxes, or state sales taxes -- you want to look at total taxes. And, luckily, the tax analysis group Citizens for Tax Justice keeps those numbers. So here is total taxes -- which includes corporate taxes, income taxes, payroll taxes, state sales taxes, and more -- paid by different income groups and broken into federal and state and local burdens:

As you can see, the poorer you are, the more state and local taxes bite into your income. As you get richer, those taxes recede, and you're mainly getting hit be federal taxes. So that's another lesson: When you omit state and local taxes from your analysis, you're omitting the taxes that hit lower-income taxpayers hardest.

The one tax graph you really need to know

Bush really fucked over the middle and lower class these past 7 years that he's been President.

Er, whatever

Yep, Agreed Dubya's POLICIES hosed US the past 7 years as well as his 8 years in office Bubba. AND?

 

[Dad2three]

Arthur Laffer said quote: "We all want to increase tax rates on the rich. But we want to do it not by raising rates which won't work. We want to do it by lowering rates and broadening the base."

pay attention people like bripat9643 Oldstyle bedowin62 Toddsterpatriot Judicial review @ The rest of you

but "We all want to increase tax rates on the rich. But we want to do it not by raising rates..."?????

please, Supply siders, please explain

If you collect more taxes from the rich with a 15% cap gains rate than with a 20% cap gains rate, what do you do?

Moron Obama said he'd raise the rate, for fairness.
Smartest president my ass.

what would make you think that you would collect more from a 15% rate?

W lowered the tax on repatriation of money from 30% to 5% for one year and got more tax revenue. When rates are fair, people don't work to evade them and pay more while focusing their efforts on economic efficiency

Your premise is blown out of the water, again, and AGAIN no response huh? lol

 

[EdwardBaiamonte]

Arthur Laffer said quote: "We all want to increase tax rates on the rich. But we want to do it not by raising rates which won't work. We want to do it by lowering rates and broadening the base."

pay attention people like bripat9643 Oldstyle bedowin62 Toddsterpatriot Judicial review @ The rest of you

but "We all want to increase tax rates on the rich. But we want to do it not by raising rates..."?????

please, Supply siders, please explain

If you collect more taxes from the rich with a 15% cap gains rate than with a 20% cap gains rate, what do you do?

Moron Obama said he'd raise the rate, for fairness.
Smartest president my ass.

what would make you think that you would collect more from a 15% rate?

W lowered the tax on repatriation of money from 30% to 5% for one year and got more tax revenue. When rates are fair, people don't work to evade them and pay more while focusing their efforts on economic efficiency

Your premise is blown out of the water, again, and AGAIN no response huh? lol

Same is true with cap gains here. When you lower the tax govt collects more revenue.

 

[Dad2three]

Arthur Laffer said quote: "We all want to increase tax rates on the rich. But we want to do it not by raising rates which won't work. We want to do it by lowering rates and broadening the base."

pay attention people like bripat9643 Oldstyle bedowin62 Toddsterpatriot Judicial review @ The rest of you

but "We all want to increase tax rates on the rich. But we want to do it not by raising rates..."?????

please, Supply siders, please explain

If you collect more taxes from the rich with a 15% cap gains rate than with a 20% cap gains rate, what do you do?

Moron Obama said he'd raise the rate, for fairness.
Smartest president my ass.

what would make you think that you would collect more from a 15% rate?

W lowered the tax on repatriation of money from 30% to 5% for one year and got more tax revenue. When rates are fair, people don't work to evade them and pay more while focusing their efforts on economic efficiency

Your premise is blown out of the water, again, and AGAIN no response huh? lol

Same is true with cap gains here. When you lower the tax govt collects more revenue.

LYING POS, I LINKED WHERE YOU WERE WRONG DUMBASS

 

[EdwardBaiamonte]

LYING POS, I LINKED WHERE YOU WERE WRONG DUMBASS

wrong about what???? If you tax venture capital you will get fewer rather than more new ventures like Apple Google Amazon Intel etc etc.

A child can understand this just not a liberal.

 

[Dad2three]

LYING POS, I LINKED WHERE YOU WERE WRONG DUMBASS

wrong about what???? If you tax venture capital you will get fewer rather than more new ventures like Apple Google Amazon Intel etc etc.

A child can understand this just not a liberal.

Yeah, there isn't enough capital, lol'

Bush CEA Chair Mankiw: Claim That Broad-Based Income Tax Cuts Increase Revenue Is Not "Credible," Capital Income Tax Cuts Also Don't Pay For Themselves.


used the phrase "charlatans and cranks" in the first edition of my principles textbook to describe some of the economic advisers to Ronald Reagan, who told him that broad-based income tax cuts would have such large supply-side effects that the tax cuts would raise tax revenue. I did not find such a claim credible, based on the available evidence. I never have, and I still don't.

[...]

My other work has remained consistent with this view. In a paper on dynamic scoring, written while I was working at the White House, Matthew Weinzierl and I estimated that a broad-based income tax cut (applying to both capital and labor income) would recoup only about a quarter of the lost revenue through supply-side growth effects. For a cut in capital income taxes, the feedback is larger--about 50 percent--but still well under 100 percent. A chapter on dynamic scoring in the 2004 Economic Report of the President says about the the [sic] same thing.



Greg Mankiw's Blog: On Charlatans and Cranks


Bush CEA Chair Mankiw: Claim That Broad-Based Income Tax Cuts Increase Revenue Is Not "Credible," Capital Income Tax Cuts Also Don't Pay For Themselves

Conservative Economist Holtz-Eakin: "No Serious Research Evidence" Suggests Tax Cuts Pay For Themselves."

Tax Foundation's Prante: "A Stretch" To Claim "Cutting Capital Gains Taxes Raises Tax Revenues."

 

[Procrustes Stretched]

Should lower taxes across the board implementing a flat tax which is fairer than a variable tax where people who earn more get taxed a higher percentage.

Why do you think a flat tax is fair?

 

[EdwardBaiamonte]

Should lower taxes across the board implementing a flat tax which is fairer than a variable tax where people who earn more get taxed a higher percentage.

Why do you think a flat tax is fair?

this is true!! What is fair is that everyone pay the same price for govt just they way they pay the same price for food.

 

[Procrustes Stretched]

Why do you think a flat tax is fair?

this is true!! What is fair is that everyone pay the same price for govt just they way they pay the same price for food.

special ed

 

[EdwardBaiamonte]

Why do you think a flat tax is fair?

this is true!! What is fair is that everyone pay the same price for govt just they way they pay the same price for food.

special ed

this is true!! What is fair is that everyone pay the same price for govt just they way they pay the same price for food.

 

[Procrustes Stretched]

Why do you think a flat tax is fair?

this is true!! What is fair is that everyone pay the same price for govt just they way they pay the same price for food.

special ed

this is true!! What is fair is that everyone pay the same price for govt just they way they pay the same price for food.

you are nuts

 

[EdwardBaiamonte]

you are nuts

translation: as a typical liberal I lack the brains to respond substantively. Ever see a conservative or libertarian who cant respond? What does that teach us about liberals.

 

[Toddsterpatriot]

you are nuts

translation: as a typical liberal I lack the brains to respond substantively. Ever see a conservative or libertarian who cant respond? What does that teach us about liberals.

Ever see a conservative or libertarian who cant respond?

Besides you?

 

[EdwardBaiamonte]

this is true!! What is fair is that everyone pay the same price for govt just they way they pay the same price for food. Why do the poor pay the same price for food anyway? Is that fair????

 

[SeniorChief_Polock]

Liberals are really hung up on raising taxes. I guess they're getting nervous because when a Republican is elected to the White House in 2016 - the free ride faucet is going to be shut off in many areas. People who have been living off the government teat for the last 7.5 years are suddenly going to have to (SHOCKING!!) seek employment!!! And take regular drug tests to remain on government subsidies. Enjoy these last few months, and you last "free" Christmas. Happy Holidays to you and yours.

 

[EdwardBaiamonte]

Liberals are really hung up on raising taxes. I guess they're getting nervous because when a Republican is elected to the White House in 2016 - the free ride faucet is going to be shut off in many areas. People who have been living off the government teat for the last 7.5 years are suddenly going to have to (SHOCKING!!) seek employment!!! And take regular drug tests to remain on government subsidies. Enjoy these last few months, and you last "free" Christmas. Happy Holidays to you and yours.

yep Democrat core value is to subvert our country by encouraging more leeching and less working or contributing!